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Hyundai & Kia to spend up to $395 million on lump sum fuel settlements
Fri, 27 Dec 2013Hyundai & Kia to spend up to $395 on lump sum fuel settlements Back in 2012, Hyundai and Kia had to stand up and accept that they’d overstated the official economy of a number of their models and attempt to put things right. They did that by offering all buyers of affected cars a compensation plan which repaid owners for their losses over expectation, added 15 per cent for good measure and made that ongoing for the lifetime of the ownership. But this is the USA, so it wasn’t all as straightforward as that.
Norwegian EV maker Think files for bankruptcy
Thu, 23 Jun 2011Tiny electric car maker Think Global AS filed for bankruptcy today in its home market of Norway after attempts to keep the company going through recapitalization and restructuring failed, the company said in a statement. It is the fourth time Think has collapsed financially in its 20-year history. "We needed some additional funding and although we had interested investors they were not able to come to the table quickly enough," Think spokesman James Andrew told Automotive News Europe.
Threat to rural road maintenance
Thu, 06 Feb 2014TOTAL ROAD CLOSURES may be necessary as the extreme winter weather has left councils struggling to maintain routes, according to a local government chief. One council - Cornwall - said it was being "starved of resources" and was considering stopping maintenance of rural roads. But the Department for Transport said billions of pounds were being provided for local highways maintenance and it was the responsibility of authorities to cope with severe weather.